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Schach [20]
3 years ago
6

Volga Co. included a foreign subsidiary in its Year 6 consolidated financial statements. The subsidiary was acquired in Year 4 a

nd was excluded from previous consolidations. The change was caused by the elimination of foreign currency controls. Including the subsidiary in the Year 6 consolidated financial statements results in an accounting change that should be reported:________.
Business
1 answer:
Katen [24]3 years ago
3 0

Answer:

By retrospective application to the financial statements of all prior periods presented.

Explanation:

From the question we are informed about Volga Co. who included a foreign subsidiary in its Year 6 consolidated financial statements. The subsidiary was acquired in Year 4 and was excluded from previous consolidations. The change was caused by the elimination of foreign currency controls. Including the subsidiary in the Year 6 consolidated financial statements results in an accounting change that should be reported By retrospective application to the financial statements of all prior periods presented.

Consolidated financial statements can be regarded as financial statements of a particular group whereby equity, assets as well as liabilities and cash flows and expenses of the parent company as well as its subsidiaries are been presented in a way of single economic entity. In others words Consolidated financial statements can as well be regarded as financial statements of an organization having multiple divisions or multiple subsidiaries. Some firms often use the consolidated as regards financial statement reporting to describe aggregated reporting of business collectively.

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Blue Spruce Corp. started the year with total assets of $304000 and total liabilities of $244000. During the year the business r
erma4kov [3.2K]

Answer:

$305,000

Explanation:

Net income is the amount of money available to a company after the deduction of expenses from revenue. It is calculated as;

Net income = Revenues - Expenses

Given that;

Revenues = $630,000

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Net income = $630,000 - $325,000

Net income = $305,000

Therefore the net income reported by Blue Spruce Corp. For the year is $305,000

3 0
3 years ago
The following is an estimated demand function:
Tanzania [10]

Answer:

The predicted value of sales is $75,037,500.

Explanation:

Given:

Q = 875 + 6XA + 15Y - 5P ……………………..(1)

Where:

Q = quantity sold = ?

XA = Advertising = $100,000

Y = Income = $10,000

P = Price = $100

Substituting the values into equation (1), we have:

Q = 875 + (6 * 100,000) + (15 * 10,000) - (5 * 100)

Q = 750,375

Therefore, we have:

Predicted value of sales = Q * P = 750,375 * $100 = $75,037,500

Therefore, the predicted value of sales is $75,037,500.

3 0
3 years ago
A businesswoman is upset with her husband. She channels this anger into her work and increases her productivity dramatically. Th
MArishka [77]

Answer:

Sublimation

Explanation:

Sublimation is the process of channelling negative, socially-unacceptable feelings, toward productive, or socially-acceptable abilities.

The concept was developed by Freud, especially in his work "Madness and Civilization".

Freud basically said that sublimation is what allowed humans to live in society, however, he also warned that sublimation did not always work, and some people were less likely to behave than others, leading to for example, the presence of criminality and antisocial behaviour.

6 0
3 years ago
Without doubt, the recommendation promotional budgeting technique is the objective and task approach. et, there is one major pro
stiks02 [169]

Answer: difficulty of accurately assessing the advertising costs necessary to accomplish the goals

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6 0
4 years ago
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Oz has a bachelor's degree in nursing which employer might be interested in hiring Oz A. medical billing company in need of a co
Diano4ka-milaya [45]

Answer:

b.

Explanation:

small school district needing a nurse

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3 years ago
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